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Citibank … falling and falling … they never sleep
More than reversed already ALL of its gains since the market bottom of late 2002 start 2003 …
remember … DAX was below 2.300, the S&P below 900 …

Message understood … “they” are really worried …
Who is “they”?
The FED, the Government, all the (investment) banks who fight for survival.
They fight for every(!) single day, they can hold the markets up. This might end in desaster mode …
Today’s news was:
- Gulf investors see more capital needed to save Citibank
- Intel cuts outlook
- S&P […]

Oppenheimer and Goldman Sachs bring the RED INK to the financials again.
Goldman might be oportunistic as it sees cuts for Q1 but does not really change the 2008 outlook by too much … You know … HOPE is important
They expect:
- Citibank to write off a further 12 bln$
- JP Morgan to write off […]

Reading the stories coming out after the SocGen MISMANAGEMENT … not a rogue trader … absolute reckless mismanagement made it happen … makes me sick!!!
Where were/are all the supervising authorities???
SEC? BaFin? Whatever their name is … WHERE THE HELL ARE YOU??? Or are you all stupid underpaid bastards??? Helpless or blind? Or just waiting for […]

Usually I like trend days, but today I did not get it until it was too late. Maybe I will adapt my rules a bit to deal better with it.
There are days, when good news is bad news and bad news is even worse news Today was one of them.
Early in the morning […]

Situation:
U.S. Markets: Markets closed higher on IBM and SAP earnings, the reopening of Fidelity’s Magellan Fund (which shows faith in the market), rate cut “security” and on short covering in the financials as even the worst possible news seems to be in the prices for now. Newest rumors see between 24 and 30 bln$ write […]

Situation:
U.S. Markets: Ended the week down up to 2% despite BoA taking over Countrywide Financial. Over the weekend speculation about new capital inflow for financial institutions from SWFs. Chinese and Arab buyers lining up, especially for Citibank and Merill Lynch. (pls. read my posts here) and here Rumours fly about the possible write offs, […]

How many times will they be able to repeat that?
Every quarter a new investor … OMG
This time, the FT reports, it will be 14(!!!) bln$ fresh money and the estimates for the write offs are skyrocketing … up to 20bln$ is the guess as it is up to 15bln$ for Merill.
Citibank, they say, will […]